The government-backed PRS REIT is on track to own 5,400 homes across the UK.
The REIT – run by Sigma Capital and supported by funds from government delivery agency Homes England – has completed 1,289 homes, it said in a trading update for August.
The estimated rental value of these homes is £11.76m per annum.
The firm said the enlarged portfolio reflected several factors, including increasing allocation to sites in the South East.
The overall yield target for 2022 at stabilisation remains at 5.5 pence per share.
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